RUNPROFITS RESEARCH DESK // BROKER RATINGS & PRICE TARGETS

REPORT DATE: 15/10/26 | UPDATED: 08:10 (MORNING SWEEP)

EQUITY RESEARCH REVISIONS & TARGET SPREADS

Daily Broker Price Target & Rating Revisions

Broker rating changes, price target adjustments, and implied valuation spreads
measured against last dated intraday share prices. Click any teal EPIC pill to open its
interactive TradingView chart.

REPORT DATE & SWEEP

15/10/26

08:10 (MORNING SWEEP)

TOTAL BROKER ACTIONS

37

UPGRADES / TARGET INCREASES

8

DOWNGRADES / TARGET CUTS

7

DATE:





BROKER PRICE TARGET & RATING REVISION LEDGER

Company / Epic Sector Brokerage Action / Rating Target Revision TP +/- Implied Spread Share Price
YOU

Yougov
Media
Panmure Liberum
Dated: 15/10/26 08:10
DOWNGRADE

Buy to Hold
315p to 335p
TARGET RAISED
+6.35%
+20p
+13.56%
+40p vs Intraday
295p +0.4%
DELAYED LSE
RIO

Rio Tinto
Industrial Metals and Mining
UBS
Dated: 15/10/26 07:59
REITERATED

Neutral
7,400p to 7,300p
TARGET LOWERED
-1.35%
-100p
+9.66%
+643p vs Intraday
6,657p -3.8%
DELAYED LSE
RTO

Rentokil Initial
Industrial Support Services
UBS
Dated: 15/10/26 07:56
REITERATED

Buy
480p to 370p
TARGET LOWERED
-22.92%
-110p
+19.97%
+61.60p vs Intraday
308.40p +0.6%
DELAYED LSE
PRV

Porvair
Electronic and Electrical Equipment
Berenberg
Dated: 15/10/26 07:29
REITERATED

Buy
1,050p to 1,100p
TARGET RAISED
+4.76%
+50p
+25.11%
+220.81p vs Intraday
879.19p +1.1%
DELAYED LSE
KMR

Kenmare Resources
Industrial Metals and Mining
Berenberg
Dated: 15/10/26 07:19
DOWNGRADE

Hold
180p to 160p
TARGET LOWERED
-11.11%
-20p
-29.27%
-66.22p vs Intraday
226.22p +0.1%
DELAYED LSE
ZIG

Zigup
Industrial Transportation
Deutsche Bank Research
Dated: 15/10/26 07:13
REITERATED

Buy
525p to 575p
TARGET RAISED
+9.52%
+50p
+25.68%
+117.50p vs Intraday
457.50p +2.9%
DELAYED LSE
DSCV

Discoverie
Electronic and Electrical Equipment
Deutsche Bank Research
Dated: 15/10/26 07:11
REITERATED

Buy
940p to 1,000p
TARGET RAISED
+6.38%
+60p
+21.18%
+174.75p vs Intraday
825.25p -4.6%
DELAYED LSE
AVON

Avon Tech
Aerospace and Defense
Deutsche Bank Research
Dated: 15/10/26 07:11
REITERATED

Hold
1,900p to 2,450p
TARGET RAISED
+28.95%
+550p
+1.03%
+25p vs Intraday
2,425p +1.9%
DELAYED LSE
ASHM

Ashmore Group
Investment Banking and Brokerage Services
Deutsche Bank Research
Dated: 15/10/26 07:10
REITERATED

Sell
155p to 180p
TARGET RAISED
+16.13%
+25p
-20.28%
-45.80p vs Intraday
225.80p +0.7%
DELAYED LSE
CHG

Chemring Group
Aerospace and Defense
Berenberg
Dated: 15/10/26 06:29
REITERATED

Buy
660p to 650p
TARGET LOWERED
-1.52%
-10p
+25.00%
+130p vs Intraday
520p +1.6%
DELAYED LSE
DSCV

Discoverie
Electronic and Electrical Equipment
Berenberg
Dated: 15/10/26 06:28
REITERATED

Buy
1,050p to 1,100p
TARGET RAISED
+4.76%
+50p
+33.29%
+274.75p vs Intraday
825.25p -4.6%
DELAYED LSE
CMCX

Cmc Markets
Investment Banking and Brokerage Services
Peel Hunt
Dated: 15/10/26 05:00
REITERATED

Buy
380p
TARGET SET
N/A
-43.37%
-291p vs Intraday
671p -0.4%
DELAYED LSE
BLND

British Land Company
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 15/10/26
REITERATED

Underperform
331p to 331p
TARGET UNCHANGED
0.00%
0p
-20.81%
-87p vs Intraday
418p +2.5%
DELAYED LSE
BRK

Brooks Macdonald Group
Investment Banking and Brokerage Services
Berenberg
Dated: 15/10/26
REITERATED

Buy
1,780p to 1,780p
TARGET UNCHANGED
0.00%
0p
+19.87%
+295p vs Intraday
1,485p -0.7%
DELAYED LSE
BYIT

Bytes Technology Group
Software and Computer Services
Berenberg
Dated: 15/10/26
REITERATED

Buy
520p to 520p
TARGET UNCHANGED
0.00%
0p
+19.54%
+85p vs Intraday
435p +1.6%
DELAYED LSE
CHG

Chemring Group
Aerospace and Defense
Jefferies Financial Group
Dated: 15/10/26
REITERATED

Buy
658p to 658p
TARGET UNCHANGED
0.00%
0p
+26.66%
+138.50p vs Intraday
519.50p +1.5%
DELAYED LSE
DLN

Derwent London
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 15/10/26
REITERATED

Hold
1,655p to 1,655p
TARGET UNCHANGED
0.00%
0p
-11.26%
-210p vs Intraday
1,865p +1.1%
DELAYED LSE
DNLM

Dunelm Group
Retailers
Jefferies Financial Group
Dated: 15/10/26
REITERATED

Buy
1,030p to 1,030p
TARGET UNCHANGED
0.00%
0p
+19.42%
+167.50p vs Intraday
862.50p +7.7%
DELAYED LSE
DSCV

Discoverie Group
Electronic and Electrical Equipment
Jefferies Financial Group
Dated: 15/10/26
REITERATED

Hold
685p to 685p
TARGET UNCHANGED
0.00%
0p
-16.97%
-140p vs Intraday
825p -4.6%
DELAYED LSE
GPE

Great Portland Estates
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 15/10/26
REITERATED

Buy
351p to 351p
TARGET UNCHANGED
0.00%
0p
+9.76%
+31.20p vs Intraday
319.80p +0.1%
DELAYED LSE
HMSO

Hammerson
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 15/10/26
REITERATED

Hold
351p to 351p
TARGET UNCHANGED
0.00%
0p
+3.60%
+12.20p vs Intraday
338.80p +1.1%
DELAYED LSE
KLR

Keller Group
Construction and Materials
Berenberg
Dated: 15/10/26
REITERATED

Buy
3,450p to 3,450p
TARGET UNCHANGED
0.00%
0p
+14.09%
+426p vs Intraday
3,024p -2.2%
DELAYED LSE
LIVE

Living Reit
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 15/10/26
REITERATED

Buy
80p to 80p
TARGET UNCHANGED
0.00%
0p
+11.58%
+8.30p vs Intraday
71.70p +1.6%
DELAYED LSE
LMP

Londonmetric Property
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 15/10/26
REITERATED

Buy
217p to 217p
TARGET UNCHANGED
0.00%
0p
+21.09%
+37.80p vs Intraday
179.20p +0.7%
DELAYED LSE
MNDI

Mondi
General Industrials
Jefferies Financial Group
Dated: 15/10/26
REITERATED

Buy
1,080p to 1,080p
TARGET UNCHANGED
0.00%
0p
+46.70%
+343.80p vs Intraday
736.20p -9.9%
DELAYED LSE
NXR

Norcros
Construction and Materials
Berenberg
Dated: 15/10/26
REITERATED

Buy
440p to 440p
TARGET UNCHANGED
0.00%
0p
+46.67%
+140p vs Intraday
300p +4.2%
DELAYED LSE
PHP

Primary Health Properties
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 15/10/26
REITERATED

Buy
107p to 107p
TARGET UNCHANGED
0.00%
0p
+18.82%
+16.95p vs Intraday
90.05p +0.6%
DELAYED LSE
RIO

Rio Tinto
Industrial Metals and Mining
Berenberg
Dated: 15/10/26
REITERATED

Buy
8,700p to 8,700p
TARGET UNCHANGED
0.00%
0p
+30.81%
+2,049p vs Intraday
6,651p -3.9%
DELAYED LSE
SAFE

Safestore Holdings
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 15/10/26
REITERATED

Buy
604p to 64p
TARGET LOWERED
-89.40%
-540p
-87.52%
-449p vs Intraday
513p +2.6%
DELAYED LSE
SRE

Sirius Real Estate Ltd.
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 15/10/26
REITERATED

Buy
108p to 18p
TARGET LOWERED
-83.33%
-90p
-80.42%
-73.95p vs Intraday
91.95p +2.3%
DELAYED LSE
STAN

Standard Chartered
Banks
Jefferies Financial Group
Dated: 15/10/26
REITERATED

Buy
3,040p to 3,040p
TARGET UNCHANGED
0.00%
0p
+43.40%
+920p vs Intraday
2,120p +0.5%
DELAYED LSE
SUPR

Supermarket Income Reit
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 15/10/26
REITERATED

Buy
90p to 90p
TARGET UNCHANGED
0.00%
0p
+8.76%
+7.25p vs Intraday
82.75p +1.3%
DELAYED LSE
TAM

Tatton Asset Management
Investment Banking and Brokerage Services
Berenberg
Dated: 15/10/26
REITERATED

Buy
820p to 820p
TARGET UNCHANGED
0.00%
0p
+22.39%
+150p vs Intraday
670p -0.9%
DELAYED LSE
THG

Thg
Retailers
Jefferies Financial Group
Dated: 15/10/26
REITERATED

Buy
60p to 60p
TARGET UNCHANGED
0.00%
0p
+86.80%
+27.88p vs Intraday
32.12p +16.7%
DELAYED LSE
THRL

Target Healthcare Reit Ltd
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 15/10/26
REITERATED

Buy
124p to 124p
TARGET UNCHANGED
0.00%
0p
+8.01%
+9.20p vs Intraday
114.80p +1.4%
DELAYED LSE
VIC

Victorian Plumbing Group
Retailers
Berenberg
Dated: 15/10/26
REITERATED

Buy
115p to 125p
TARGET RAISED
+8.70%
+10p
+43.02%
+37.60p vs Intraday
87.40p 0.0%
DELAYED LSE
WKP

Workspace Group
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 15/10/26
REITERATED

Hold
367p to 367p
TARGET UNCHANGED
0.00%
0p
+6.75%
+23.20p vs Intraday
343.80p -6.1%
DELAYED LSE
ABDN

Aberdeen Group
Investment Banking and Brokerage Services
JPMorgan
Dated: 14/10/26 22:01
REITERATED

Neutral
267p to 273p
TARGET RAISED
+2.25%
+6p
+14.38%
+34.33p vs Intraday
238.67p 0.0%
DELAYED LSE
CMCX

Cmc Markets
Investment Banking and Brokerage Services
Peel Hunt
Dated: 14/10/26 21:52
REITERATED

Buy
380p
TARGET SET
N/A
-43.37%
-291p vs Intraday
671p 0.0%
DELAYED LSE
SCT

Softcat
Software and Computer Services
Jefferies Financial Group
Dated: 14/10/26 18:39
REITERATED

Hold
1,700p to 1,750p
TARGET RAISED
+2.94%
+50p
+4.10%
+69p vs Intraday
1,681p 0.0%
DELAYED LSE
UTG

Unite Group
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 14/10/26 17:52
DOWNGRADE

Hold
503p to 450p
TARGET LOWERED
-10.54%
-53p
+1.12%
+5p vs Intraday
445p 0.0%
DELAYED LSE
BBOX

Tritax Big Box
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 14/10/26 17:50
REITERATED

Buy
208p to 201p
TARGET LOWERED
-3.37%
-7p
+39.29%
+56.70p vs Intraday
144.30p 0.0%
DELAYED LSE
SRE

Sirius Real Estate
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 14/10/26 17:48
REITERATED

Buy
110p to 108p
TARGET LOWERED
-1.82%
-2p
+17.01%
+15.70p vs Intraday
92.30p 0.0%
DELAYED LSE
SHC

Shaftesbury
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 14/10/26 17:46
REITERATED

Buy
182p to 170p
TARGET LOWERED
-6.59%
-12p
+21.08%
+29.60p vs Intraday
140.40p 0.0%
DELAYED LSE
SAFE

Safestore
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 14/10/26 17:45
REITERATED

Buy
788p to 604p
TARGET LOWERED
-23.35%
-184p
+17.62%
+90.50p vs Intraday
513.50p 0.0%
DELAYED LSE
PHP

Primary Health Properties Pt
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 14/10/26 17:44
REITERATED

Buy
118p to 107p
TARGET LOWERED
-9.32%
-11p
+18.56%
+16.75p vs Intraday
90.25p 0.0%
DELAYED LSE
NRR

Newriver
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 14/10/26 17:43
REITERATED

Buy
92p to 87p
TARGET LOWERED
-5.43%
-5p
+8.21%
+6.60p vs Intraday
80.40p 0.0%
DELAYED LSE
LMP

Londonmetric Property
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 14/10/26 17:42
REITERATED

Buy
225p to 217p
TARGET LOWERED
-3.56%
-8p
+21.02%
+37.69p vs Intraday
179.31p 0.0%
DELAYED LSE
HMSO

Hammerson
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 14/10/26 17:38
DOWNGRADE

Hold
375p to 351p
TARGET LOWERED
-6.40%
-24p
+3.54%
+12p vs Intraday
339p 0.0%
DELAYED LSE
GRI

Grainger Plc
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 14/10/26 17:37
REITERATED

Buy
210p to 200p
TARGET LOWERED
-4.76%
-10p
+15.21%
+26.40p vs Intraday
173.60p 0.0%
DELAYED LSE
BLND

British Land
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 14/10/26 17:36
REITERATED

Underperform
305p to 331p
TARGET RAISED
+8.52%
+26p
-20.87%
-87.28p vs Intraday
418.28p 0.0%
DELAYED LSE
BYG

Big Yellow Group
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 14/10/26 17:35
REITERATED

Buy
1,138p to 898p
TARGET LOWERED
-21.09%
-240p
+3.52%
+30.57p vs Intraday
867.43p 0.0%
DELAYED LSE
DLN

Derwent London
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 14/10/26 17:32
REITERATED

Hold
1,713p to 1,655p
TARGET LOWERED
-3.39%
-58p
-11.32%
-211.31p vs Intraday
1,866.31p 0.0%
DELAYED LSE
WKP

Workspace Group
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 14/10/26 17:30
DOWNGRADE

Buy to Hold
396p to 367p
TARGET LOWERED
-7.32%
-29p
+6.07%
+21p vs Intraday
346p 0.0%
DELAYED LSE
GPE

Great Portland
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 14/10/26 17:28
UPGRADE

Hold to Buy
334p to 351p
TARGET RAISED
+5.09%
+17p
+9.48%
+30.40p vs Intraday
320.60p 0.0%
DELAYED LSE
THRL

Target Healthcare Reit
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 14/10/26 17:27
UPGRADE

Hold to Buy
111p to 124p
TARGET RAISED
+11.71%
+13p
+8.01%
+9.20p vs Intraday
114.80p 0.0%
DELAYED LSE
LAND

Land Securities
Real Estate Investment Trusts
Jefferies Financial Group
Dated: 14/10/26 17:23
UPGRADE

Underperform to Hold
462p to 593p
TARGET RAISED
+28.35%
+131p
-7.86%
-50.60p vs Intraday
643.60p 0.0%
DELAYED LSE
BRK

Brooks Macdonald
Investment Banking and Brokerage Services
RBC
Dated: 14/10/26 15:11
REITERATED

Sector Perform
1,600p to 1,550p
TARGET LOWERED
-3.12%
-50p
+4.38%
+65p vs Intraday
1,485p 0.0%
DELAYED LSE
PNN

Pennon Group
Gas, Water and Multi-utilities
UBS
Dated: 14/10/26 08:11
REITERATED

Buy
550p to 425p
TARGET LOWERED
-22.73%
-125p
+30.93%
+100.40p vs Intraday
324.60p 0.0%
DELAYED LSE
MKS

Marks & Spencer
Retailers
UBS
Dated: 14/10/26 08:09
REITERATED

Buy
425p to 465p
TARGET RAISED
+9.41%
+40p
+13.33%
+54.70p vs Intraday
410.30p 0.0%
DELAYED LSE
BBY

Balfour Beatty
Construction and Materials
Panmure Liberum
Dated: 14/10/26 08:04
UPGRADE

Hold to Buy
960p to 1,000p
TARGET RAISED
+4.17%
+40p
+22.03%
+180.50p vs Intraday
819.50p 0.0%
DELAYED LSE
BWY

Bellway
Household Goods and Home Construction
Deutsche Bank Research
Dated: 14/10/26 07:30
REITERATED

Buy
2,917p to 2,685p
TARGET LOWERED
-7.95%
-232p
+27.37%
+577p vs Intraday
2,108p 0.0%
DELAYED LSE
BA

BAE Systems
Aerospace and Defense
Kepler Cheuvreux
Dated: 14/10/26 07:24
REITERATED

buy
2,360p to 2,190p
TARGET LOWERED
-7.20%
-170p
+13.71%
+264p vs Intraday
1,926p +3.5%
DELAYED LSE
BWY

Bellway
Household Goods and Home Construction
Berenberg
Dated: 14/10/26 06:49
REITERATED

Buy
2,550p to 2,450p
TARGET LOWERED
-3.92%
-100p
+16.22%
+342p vs Intraday
2,108p 0.0%
DELAYED LSE
WTB

Whitbread
Travel and Leisure
Bernstein
Dated: 14/10/26 06:13
REITERATED

Market-Perform
2,400p to 2,500p
TARGET RAISED
+4.17%
+100p
-3.88%
-101p vs Intraday
2,601p 0.0%
DELAYED LSE
RYA

Ryanair Holdings
General
JPMorgan
Dated: 14/10/26 06:02
REITERATED

Overweight
EUR 32 to EUR 29
TARGET LOWERED
-9.38%
EUR -3
+30.45%
EUR +6.77 vs Intraday
EUR 22.23 0.0%
DELAYED LSE
LAND

Land Securities
Real Estate Investment Trusts
Berenberg
Dated: 14/10/26 05:52
REITERATED

Buy
931p to 863p
TARGET LOWERED
-7.30%
-68p
+34.09%
+219.40p vs Intraday
643.60p 0.0%
DELAYED LSE
OXIG

Oxford Instruments
Electronic and Electrical Equipment
Berenberg
Dated: 14/10/26 05:51
DOWNGRADE

Hold
3,000p to 2,840p
TARGET LOWERED
-5.33%
-160p
+5.19%
+140p vs Intraday
2,700p 0.0%
DELAYED LSE
PNN

Pennon Group
Gas, Water and Multi-utilities
Jefferies Financial Group
Dated: 14/10/26 05:46
UPGRADE

hold to buy
500p to 380p
TARGET LOWERED
-24.00%
-120p
+17.79%
+57.40p vs Intraday
322.60p -0.1%
DELAYED LSE
GNC

Greencore Group
Food Producers
Berenberg
Dated: 14/10/26 05:38
REITERATED

Buy
351p to 384p
TARGET RAISED
+9.40%
+33p
+37.54%
+104.80p vs Intraday
279.20p 0.0%
DELAYED LSE
AAL

Anglo American
Industrial Metals and Mining
JPMorgan
Dated: 14/10/26
UPGRADE

underweight to neutral
3,350p to 3,850p
TARGET RAISED
+14.93%
+500p
-6.98%
-289p vs Intraday
4,139p +0.5%
DELAYED LSE
ANTO

Antofagasta
Industrial Metals and Mining
JPMorgan
Dated: 14/10/26
REITERATED

overweight
4,300p to 4,500p
TARGET RAISED
+4.65%
+200p
+23.52%
+857p vs Intraday
3,643p +1.5%
DELAYED LSE
ASHM

Ashmore Group
Investment Banking and Brokerage Services
Jefferies Financial Group
Dated: 14/10/26
REITERATED

Buy
285p to 285p
TARGET UNCHANGED
0.00%
0p
+25.66%
+58.20p vs Intraday
226.80p 0.0%
DELAYED LSE
ATYM

Atalaya Mining
Precious Metals and Mining
JPMorgan
Dated: 14/10/26
REITERATED

overweight
1,330p to 1,320p
TARGET LOWERED
-0.75%
-10p
+23.36%
+250p vs Intraday
1,070p +0.5%
DELAYED LSE
BBY

Balfour Beatty
Construction and Materials
Jefferies Financial Group
Dated: 14/10/26
REITERATED

Buy
1,120p to 1,120p
TARGET UNCHANGED
0.00%
0p
+36.92%
+302p vs Intraday
818p 0.0%
DELAYED LSE
BP

Bp
Oil, Gas and Coal
Jefferies Financial Group
Dated: 14/10/26
REITERATED

Hold
520p to 520p
TARGET UNCHANGED
0.00%
0p
-15.02%
-91.90p vs Intraday
611.90p 0.0%
DELAYED LSE
BWY

Bellway
Household Goods and Home Construction
Jefferies Financial Group
Dated: 14/10/26
REITERATED

Buy
2,380p to 2,380p
TARGET UNCHANGED
0.00%
0p
+12.48%
+264p vs Intraday
2,116p 0.0%
DELAYED LSE
BWY

Bellway
Household Goods and Home Construction
RBC
Dated: 14/10/26
REITERATED

sector perform
2,050p to 2,100p
TARGET RAISED
+2.44%
+50p
+4.06%
+82p vs Intraday
2,018p +3.2%
DELAYED LSE
BYIT

Bytes Technology Group
Software and Computer Services
Jefferies Financial Group
Dated: 14/10/26
REITERATED

Hold
450p to 450p
TARGET UNCHANGED
0.00%
0p
+3.73%
+16.20p vs Intraday
433.80p 0.0%
DELAYED LSE
CHRY

Chrysalis Investments
Closed End Investments
Jefferies Financial Group
Dated: 14/10/26
REITERATED

Buy
Not Disclosed N/A N/A
69.52p +0.5%
DELAYED LSE
DGE

Diageo
Beverages
Jefferies Financial Group
Dated: 14/10/26
REITERATED

Buy
2,200p to 2,200p
TARGET UNCHANGED
0.00%
0p
+27.54%
+475p vs Intraday
1,725p 0.0%
DELAYED LSE
EDV

Endeavour Mining
Precious Metals and Mining
JPMorgan
Dated: 14/10/26
REITERATED

overweight
5,100p to 5,000p
TARGET LOWERED
-1.96%
-100p
+20.13%
+838p vs Intraday
4,162p +0.7%
DELAYED LSE
FRES

Fresnillo
Precious Metals and Mining
JPMorgan
Dated: 14/10/26
REITERATED

overweight
4,700p to 4,600p
TARGET LOWERED
-2.13%
-100p
+70.24%
+1,898p vs Intraday
2,702p -0.5%
DELAYED LSE
GLEN

Glencore
Industrial Metals and Mining
JPMorgan
Dated: 14/10/26
UPGRADE

neutral to overweight
510p to 730p
TARGET RAISED
+43.14%
+220p
+23.79%
+140.30p vs Intraday
589.70p +1.2%
DELAYED LSE
HOC

Hochschild Mining
Precious Metals and Mining
JPMorgan
Dated: 14/10/26
REITERATED

overweight
840p to 820p
TARGET LOWERED
-2.38%
-20p
+60.88%
+310.30p vs Intraday
509.70p +0.6%
DELAYED LSE
IHP

Integrafin Holding
Investment Banking and Brokerage Services
Berenberg
Dated: 14/10/26
REITERATED

Buy
460p to 460p
TARGET UNCHANGED
0.00%
0p
+25.85%
+94.50p vs Intraday
365.50p 0.0%
DELAYED LSE
IHP

IntegraFin
Investment Banking and Brokerage Services
Shore Capital Markets
Dated: 14/10/26
REITERATED

hold
Not Disclosed N/A N/A
363p -1.5%
DELAYED LSE
OXIG

Oxford Instruments
Electronic and Electrical Equipment
Jefferies Financial Group
Dated: 14/10/26
REITERATED

Hold
3,000p to 3,000p
TARGET UNCHANGED
0.00%
0p
+10.78%
+292p vs Intraday
2,708p 0.0%
DELAYED LSE
PAGE

Michael Page
Industrial Support Services
Jefferies Financial Group
Dated: 14/10/26
REITERATED

Hold
205p to 205p
TARGET UNCHANGED
0.00%
0p
+0.79%
+1.60p vs Intraday
203.40p 0.0%
DELAYED LSE
PLUS

Plus500 Ltd (di)
Investment Banking and Brokerage Services
Jefferies Financial Group
Dated: 14/10/26
REITERATED

Buy
4,720p to 4,720p
TARGET UNCHANGED
0.00%
0p
+39.89%
+1,346p vs Intraday
3,374p 0.0%
DELAYED LSE
RIO

Rio Tinto
Industrial Metals and Mining
JPMorgan
Dated: 14/10/26
REITERATED

neutral
8,100p to 7,950p
TARGET LOWERED
-1.85%
-150p
+13.94%
+972.70p vs Intraday
6,977.30p -0.3%
DELAYED LSE
ZTF

Zotefoams
Industrial Materials
Berenberg
Dated: 14/10/26
REITERATED

Buy
590p to 590p
TARGET UNCHANGED
0.00%
0p
+24.87%
+117.50p vs Intraday
472.50p 0.0%
DELAYED LSE
ANG

Angling Direct
Retailers
Canaccord Genuity
Dated: 13/10/26 10:00
REITERATED

Buy
78p to 54p
TARGET LOWERED
-30.77%
-24p
+0.71%
+0.38p vs Intraday
53.62p -1.6%
DELAYED LSE
GNC

Greencore Group
Food Producers
Jefferies Financial Group
Dated: 13/10/26 10:00
REITERATED

Hold
185p
TARGET SET
N/A
-33.35%
-92.55p vs Intraday
277.55p +3.4%
DELAYED LSE
GNS

Genus
Pharmaceuticals, Biotechnology and Cannabis Producers
Berenberg
Dated: 13/10/26 10:00
REITERATED

Buy
3,350p
TARGET SET
N/A
+46.16%
+1,058p vs Intraday
2,292p +0.2%
DELAYED LSE
KOD

Kodal Minerals
Industrial Metals and Mining
Canaccord Genuity
Dated: 13/10/26 10:00
REITERATED

Speculative Buy
0.70p
TARGET SET
N/A
+133.33%
+0.40p vs Intraday
0.30p -6.3%
DELAYED LSE
MICC

Millicom International Cellular
Food Producers
Berenberg
Dated: 13/10/26 10:00
REITERATED

Hold
1,280p to 1,250p
TARGET LOWERED
-2.34%
-30p
-10.68%
-149.50p vs Intraday
1,399.50p +4.1%
DELAYED LSE
THS

Tharisa
Industrial Metals and Mining
Berenberg
Dated: 13/10/26 10:00
REITERATED

Buy
230p
TARGET SET
N/A
+88.52%
+108p vs Intraday
122p -0.8%
DELAYED LSE
TPK

Travis Perkins
Industrial Support Services
Jefferies Financial Group
Dated: 13/10/26 10:00
REITERATED

Underperform
453p
TARGET SET
N/A
-22.56%
-132p vs Intraday
585p +2.5%
DELAYED LSE
VIC

Victorian Plumbing Group
Retailers
Canaccord Genuity
Dated: 13/10/26 10:00
REITERATED

Buy
132p to 135p
TARGET RAISED
+2.27%
+3p
+55.17%
+48p vs Intraday
87p +1.5%
DELAYED LSE
YOU

YouGov
Media
Berenberg
Dated: 13/10/26 10:00
REITERATED

Buy
395p
TARGET SET
N/A
+33.63%
+99.40p vs Intraday
295.60p -3.5%
DELAYED LSE
AAL

Anglo American
Industrial Metals and Mining
JPMorgan
Dated: 13/10/26
UPGRADE

Underweight to Neutral
3,350p to 3,850p
TARGET RAISED
+14.93%
+500p
-6.55%
-270p vs Intraday
4,120p 0.0%
DELAYED LSE
ANTO

Antofagasta
Industrial Metals and Mining
JPMorgan
Dated: 13/10/26
REITERATED

Overweight
4,300p to 4,500p
TARGET RAISED
+4.65%
+200p
+25.42%
+912p vs Intraday
3,588p 0.0%
DELAYED LSE
BWY

Bellway
Household Goods and Home Construction
RBC
Dated: 13/10/26
REITERATED

Sector Perform
2,050p to 2,100p
TARGET RAISED
+2.44%
+50p
+7.36%
+144p vs Intraday
1,956p 0.0%
DELAYED LSE
EDV

Endeavour Mining
Precious Metals and Mining
JPMorgan
Dated: 13/10/26
REITERATED

Overweight
5,100p to 5,000p
TARGET LOWERED
-1.96%
-100p
+21.01%
+868p vs Intraday
4,132p 0.0%
DELAYED LSE
FRES

Fresnillo
Precious Metals and Mining
JPMorgan
Dated: 13/10/26
REITERATED

Overweight
4,700p to 4,600p
TARGET LOWERED
-2.13%
-100p
+69.37%
+1,884p vs Intraday
2,716p 0.0%
DELAYED LSE
GLEN

Glencore
Industrial Metals and Mining
JPMorgan
Dated: 13/10/26
UPGRADE

Neutral to Overweight
510p to 730p
TARGET RAISED
+43.14%
+220p
+25.24%
+147.10p vs Intraday
582.90p 0.0%
DELAYED LSE
HOC

Hochschild Mining
Precious Metals and Mining
JPMorgan
Dated: 13/10/26
REITERATED

Overweight
840p to 820p
TARGET LOWERED
-2.38%
-20p
+61.90%
+313.50p vs Intraday
506.50p 0.0%
DELAYED LSE
IPX

Impax Asset Management
Investment Banking and Brokerage Services
Berenberg
Dated: 13/10/26
REITERATED

buy
170p to 135p
TARGET LOWERED
-20.59%
-35p
+46.90%
+43.10p vs Intraday
91.90p -9.4%
DELAYED LSE
KGF

Kingfisher
Retailers
JPMorgan
Dated: 13/10/26
REITERATED

underweight
290p to 295p
TARGET RAISED
+1.72%
+5p
-9.48%
-30.90p vs Intraday
325.90p +2.1%
DELAYED LSE
LRE

Lancashire
Non-life Insurance
Jefferies Financial Group
Dated: 13/10/26
REITERATED

buy
667p to 691p
TARGET RAISED
+3.60%
+24p
+1.62%
+11p vs Intraday
680p +1.9%
DELAYED LSE
MER

Mears Group
Industrial Support Services
Berenberg
Dated: 13/10/26
REITERATED

buy
565p to 600p
TARGET RAISED
+6.19%
+35p
+46.52%
+190.50p vs Intraday
409.50p +0.9%
DELAYED LSE
NWG

NatWest
Banks
Mediobanca
Dated: 13/10/26
REITERATED

outperform
900p to 850p
TARGET LOWERED
-5.56%
-50p
+27.40%
+182.80p vs Intraday
667.20p +2.1%
DELAYED LSE
NWG

NatWest
Banks
Barclays
Dated: 13/10/26
UPGRADE

overweight
740p to 850p
TARGET RAISED
+14.86%
+110p
+27.40%
+182.80p vs Intraday
667.20p +2.1%
DELAYED LSE
RIO

Rio Tinto
Industrial Metals and Mining
JPMorgan
Dated: 13/10/26
REITERATED

Neutral
8,100p to 7,950p
TARGET LOWERED
-1.85%
-150p
+13.62%
+953p vs Intraday
6,997p 0.0%
DELAYED LSE
SMWH

WH Smith
Retailers
Panmure Liberum
Dated: 13/10/26
REITERATED

buy
420p
TARGET SET
N/A
+12.54%
+46.80p vs Intraday
373.20p +0.1%
DELAYED LSE
SRP

Serco Group
Industrial Support Services
Berenberg
Dated: 13/10/26
REITERATED

buy
350p to 400p
TARGET RAISED
+14.29%
+50p
+54.32%
+140.80p vs Intraday
259.20p +0.6%
DELAYED LSE
TSCO

Tesco
Personal Care, Drug and Grocery Stores
Bank of America
Dated: 13/10/26
REITERATED

buy
540p to 570p
TARGET RAISED
+5.56%
+30p
+10.25%
+53p vs Intraday
517p +1.2%
DELAYED LSE
ULVR

Unilever
Personal Care, Drug and Grocery Stores
Jefferies Financial Group
Dated: 13/10/26
REITERATED

underperform
3,900p to 4,000p
TARGET RAISED
+2.56%
+100p
-15.08%
-710.50p vs Intraday
4,710.50p -0.6%
DELAYED LSE
WTB

Whitbread
Travel and Leisure
JPMorgan
Dated: 13/10/26
REITERATED

neutral
2,740p
TARGET SET
N/A
+6.86%
+176p vs Intraday
2,564p +2.2%
DELAYED LSE
AOM

ActiveOps
Software and Computer Services
Canaccord Genuity
Dated: 12/10/26 09:49
REITERATED

Buy
355p to 300p
TARGET LOWERED
-15.49%
-55p
+180.37%
+193p vs Intraday
107p -52.4%
DELAYED LSE
ATYM

Atalaya Mining
Precious Metals and Mining
Peel Hunt
Dated: 12/10/26 09:49
REITERATED

Buy
1,185p
TARGET SET
N/A
+9.82%
+106p vs Intraday
1,079p +0.7%
DELAYED LSE
CWK

Cranswick
Food Producers
Peel Hunt
Dated: 12/10/26 09:49
UPGRADE

Buy
6,600p
TARGET SET
N/A
+27.66%
+1,430p vs Intraday
5,170p +3.7%
DELAYED LSE
ENT

Entain
Travel and Leisure
Jefferies Financial Group
Dated: 12/10/26 09:49
REITERATED

Buy
1,000p
TARGET SET
N/A
+133.12%
+571.03p vs Intraday
428.97p +0.5%
DELAYED LSE
HAS

Hays
Industrial Support Services
Jefferies Financial Group
Dated: 12/10/26 09:49
REITERATED

Underperform
45p
TARGET SET
N/A
-19.04%
-10.58p vs Intraday
55.58p -13.5%
DELAYED LSE
HVO

hVIVO
Health Care Providers
Peel Hunt
Dated: 12/10/26 09:49
REITERATED

Buy
14p
TARGET SET
N/A
+141.38%
+8.20p vs Intraday
5.80p -3.3%
DELAYED LSE
ICG

Intermediate Capital Group
Investment Banking and Brokerage Services
Jefferies Financial Group
Dated: 12/10/26 09:49
REITERATED

Buy
2,800p to 2,700p
TARGET LOWERED
-3.57%
-100p
+49.58%
+895p vs Intraday
1,805p -0.2%
DELAYED LSE
JSG

Johnson Service Group
Industrial Support Services
Deutsche Bank Research
Dated: 12/10/26 09:49
REITERATED

Buy
210p to 200p
TARGET LOWERED
-4.76%
-10p
+43.68%
+60.80p vs Intraday
139.20p +0.9%
DELAYED LSE
MOTR

Motorpoint Group
Retailers
Deutsche Bank Research
Dated: 12/10/26 09:49
REITERATED

Buy
170p
TARGET SET
N/A
+23.19%
+32p vs Intraday
138p -1.4%
DELAYED LSE
PNN

Pennon Group
Gas, Water and Multi-utilities
Deutsche Bank Research
Dated: 12/10/26 09:49
DOWNGRADE

Hold
550p to 380p
TARGET LOWERED
-30.91%
-170p
+16.56%
+54p vs Intraday
326p -8.7%
DELAYED LSE
POLR

Polar Capital
Investment Banking and Brokerage Services
Peel Hunt
Dated: 12/10/26 09:49
REITERATED

Buy
1,200p
TARGET SET
N/A
+52.09%
+411p vs Intraday
789p -2.0%
DELAYED LSE
SRE

Sirius Real Estate
Real Estate Investment Trusts
Peel Hunt
Dated: 12/10/26 09:49
REITERATED

Buy
125p
TARGET SET
N/A
+39.28%
+35.25p vs Intraday
89.75p +1.5%
DELAYED LSE
SYNC

Syncona
Closed End Investments
Peel Hunt
Dated: 12/10/26 09:49
REITERATED

Buy
189p
TARGET SET
N/A
+53.07%
+65.53p vs Intraday
123.47p +0.2%
DELAYED LSE
ULVR

Unilever
Personal Care, Drug and Grocery Stores
Deutsche Bank Research
Dated: 12/10/26 09:49
REITERATED

Hold
5,150p
TARGET SET
N/A
+7.62%
+364.50p vs Intraday
4,785.50p +2.4%
DELAYED LSE
VP

VP
Industrial Transportation
Peel Hunt
Dated: 12/10/26 09:49
REITERATED

Buy
550p
TARGET SET
N/A
+4.96%
+26p vs Intraday
524p +2.3%
DELAYED LSE
WATR

Water Intelligence
Industrial Support Services
Canaccord Genuity
Dated: 12/10/26 09:49
REITERATED

Buy
515p
TARGET SET
N/A
+90.74%
+245p vs Intraday
270p -0.9%
DELAYED LSE
ITM

ITM Power
Renewable Energy
Berenberg
Dated: 12/10/26
REITERATED

Buy
200p
TARGET SET
N/A
+121.12%
+109.55p vs Intraday
90.45p -4.3%
DELAYED LSE
SSPG

SSP Group
Travel and Leisure
Berenberg
Dated: 12/10/26
REITERATED

Buy
245p to 225p
TARGET LOWERED
-8.16%
-20p
+25.42%
+45.60p vs Intraday
179.40p +1.8%
DELAYED LSE
TIN

TIN
Industrial Metals and Mining
Berenberg
Dated: 12/10/26
REITERATED

Buy
153p
TARGET SET
N/A
+50.00%
+51p vs Intraday
102p -1.9%
DELAYED LSE
CRE

Conduit
Non-life Insurance
Berenberg
Dated: 09/10/26
REITERATED

Buy
765p
TARGET SET
N/A
+69.25%
+313p vs Intraday
452p +4.4%
DELAYED LSE
DOCS

Dr. Martens
Personal Goods
Berenberg
Dated: 09/10/26
REITERATED

Buy
110p
TARGET SET
N/A
+61.76%
+42p vs Intraday
68p 0.0%
DELAYED LSE
RNMBY

Rheinmetall
Industrial Support Services
Berenberg
Dated: 09/10/26
DOWNGRADE

Strong-Buy to Hold
Not Disclosed N/A N/A
$218.52 +4.1%
DELAYED LSE
CAML

Central Asia Metals
Industrial Metals and Mining
Berenberg
Dated: 08/10/26
REITERATED

Hold
190p
TARGET SET
N/A
+33.24%
+47.40p vs Intraday
142.60p -5.7%
DELAYED LSE
FAN

Volution Group
Construction and Materials
Berenberg
Dated: 08/10/26
REITERATED

Buy
880p
TARGET SET
N/A
+39.68%
+250p vs Intraday
630p -3.5%
DELAYED LSE
FSG

Foresight Group
Investment Banking and Brokerage Services
Berenberg
Dated: 08/10/26
REITERATED

Buy
720p
TARGET SET
N/A
+63.27%
+279p vs Intraday
441p +0.9%
DELAYED LSE
HWG

Harworth Group
Real Estate Investment and Services
Berenberg
Dated: 08/10/26
REITERATED

Hold
195p to 187p
TARGET LOWERED
-4.10%
-8p
-0.11%
-0.20p vs Intraday
187.20p +0.1%
DELAYED LSE
INF

Informa
Media
Berenberg
Dated: 08/10/26
REITERATED

Buy
1,040p
TARGET SET
N/A
+18.64%
+163.40p vs Intraday
876.60p -1.6%
DELAYED LSE
NFG

Next 15 Group
Media
Berenberg
Dated: 08/10/26
REITERATED

Buy
510p
TARGET SET
N/A
+54.31%
+179.50p vs Intraday
330.50p +11.3%
DELAYED LSE
OTB

On the Beach Group
Travel and Leisure
Berenberg
Dated: 08/10/26
REITERATED

Buy
280p to 240p
TARGET LOWERED
-14.29%
-40p
+42.86%
+72p vs Intraday
168p -3.9%
DELAYED LSE
UTG

Unite Group
Real Estate Investment Trusts
Berenberg
Dated: 08/10/26
REITERATED

Buy
668p
TARGET SET
N/A
+49.98%
+222.60p vs Intraday
445.40p +6.1%
DELAYED LSE
AZN

AstraZeneca
Pharmaceuticals, Biotechnology and Cannabis Producers
Berenberg
Dated: 07/10/26
REITERATED

Buy
17,500p
TARGET SET
N/A
+39.18%
+4,926p vs Intraday
12,574p +3.2%
DELAYED LSE
BOWL

Hollywood Bowl Group
Travel and Leisure
Berenberg
Dated: 07/10/26
REITERATED

Buy
450p
TARGET SET
N/A
+73.29%
+190.32p vs Intraday
259.68p +1.4%
DELAYED LSE
CKN

Clarkson
Industrial Transportation
Berenberg
Dated: 07/10/26
REITERATED

Buy
5,925p to 6,025p
TARGET RAISED
+1.69%
+100p
+15.98%
+830p vs Intraday
5,195p +0.7%
DELAYED LSE
HSW

Hostelworld Group
Travel and Leisure
Berenberg
Dated: 07/10/26
REITERATED

Buy
171p to 150p
TARGET LOWERED
-12.28%
-21p
+69.00%
+61.24p vs Intraday
88.76p -4.1%
DELAYED LSE
NET

Netcall
Software and Computer Services
Berenberg
Dated: 07/10/26
REITERATED

Buy
165p
TARGET SET
N/A
+28.63%
+36.73p vs Intraday
128.27p +2.2%
DELAYED LSE
NICL

Nichols
Beverages
Berenberg
Dated: 07/10/26
REITERATED

Buy
1,750p
TARGET SET
N/A
+59.27%
+651.25p vs Intraday
1,098.75p -0.1%
DELAYED LSE
DOM

Domino’s Pizza Group
Travel and Leisure
Berenberg
Dated: 06/10/26
INITIATED

Buy
291p
TARGET SET
N/A
+26.85%
+61.60p vs Intraday
229.40p +3.1%
DELAYED LSE
EVPL

Everplay Group
Leisure Goods
Berenberg
Dated: 06/10/26
REITERATED

Buy
495p to 555p
TARGET RAISED
+12.12%
+60p
+32.93%
+137.50p vs Intraday
417.50p -0.2%
DELAYED LSE
GSK

GSK
Pharmaceuticals, Biotechnology and Cannabis Producers
Berenberg
Dated: 06/10/26
REITERATED

Buy
Not Disclosed N/A N/A
$47.92 +2.8%
DELAYED LSE
NKE

NIKE
Personal Goods
Berenberg
Dated: 06/10/26
DOWNGRADE

Hold to Sell
$27.50
TARGET SET
N/A
-22.10%
$-7.80 vs Intraday
$35.30 +2.0%
DELAYED LSE
SSE

SSE
Electricity
Berenberg
Dated: 06/10/26
REITERATED

Buy
2,980p
TARGET SET
N/A
+17.60%
+446p vs Intraday
2,534p +2.5%
DELAYED LSE
DPZ

Domino’s Pizza
Travel and Leisure
Berenberg
Dated: 05/10/26
UPGRADE

Strong-Buy
Not Disclosed N/A N/A
$295.89 -0.5%
DELAYED LSE
IBST

Ibstock
Construction and Materials
Berenberg
Dated: 05/10/26
REITERATED

Hold
90p
TARGET SET
N/A
+10.97%
+8.90p vs Intraday
81.10p +2.7%
DELAYED LSE
SNY

Sanofi
Pharmaceuticals, Biotechnology and Cannabis Producers
Berenberg
Dated: 05/10/26
REITERATED

Buy
Not Disclosed N/A N/A
$39.77 +0.7%
DELAYED LSE
SRE

Sirius Real Estate
Real Estate Investment Trusts
Berenberg
Dated: 05/10/26
REITERATED

Buy
134p
TARGET SET
N/A
+45.65%
+42p vs Intraday
92p +4.1%
DELAYED LSE
TAM

Tatton Asset Management
Investment Banking and Brokerage Services
Berenberg
Dated: 05/10/26
INITIATED

Buy
820p
TARGET SET
N/A
+22.02%
+148p vs Intraday
672p +5.0%
DELAYED LSE
FTC

Filtronic
Telecommunications Equipment
Berenberg
Dated: 02/10/26
REITERATED

Buy
440p
TARGET SET
N/A
+66.98%
+176.50p vs Intraday
263.50p -3.1%
DELAYED LSE
VOD

Vodafone Group Public
Telecommunications Service Providers
Berenberg
Dated: 02/10/26
UPGRADE

Buy
123p to 140p
TARGET RAISED
+13.82%
+17p
+17.01%
+20.35p vs Intraday
119.65p -5.6%
DELAYED LSE
BAG

A.G. BARR
Beverages
Berenberg
Dated: 01/10/26
DOWNGRADE

Hold
800p to 625p
TARGET LOWERED
-21.88%
-175p
+10.82%
+61p vs Intraday
564p +3.1%
DELAYED LSE
GRG

Greggs
Personal Care, Drug and Grocery Stores
Berenberg
Dated: 01/10/26
REITERATED

Buy
2,200p to 2,300p
TARGET RAISED
+4.55%
+100p
+2.48%
+55.68p vs Intraday
2,244.32p +12.9%
DELAYED LSE
TELNY

Telenor ASA
Telecommunications Service Providers
Berenberg
Dated: 01/10/26
UPGRADE

Hold to Strong-Buy
Not Disclosed N/A N/A
$13.30 +0.2%
DELAYED LSE
KIE

Kier Group
Construction and Materials
Berenberg
Dated: 30/09/26
REITERATED

Buy
300p to 370p
TARGET RAISED
+23.33%
+70p
+22.72%
+68.49p vs Intraday
301.51p -2.9%
DELAYED LSE
LIO

Liontrust Asset Management
Investment Banking and Brokerage Services
Berenberg
Dated: 30/09/26
REITERATED

Buy
360p to 390p
TARGET RAISED
+8.33%
+30p
+28.50%
+86.50p vs Intraday
303.50p -1.5%
DELAYED LSE
LORD

Lords Group Trading
Construction and Materials
Berenberg
Dated: 30/09/26
REITERATED

Buy
40p
TARGET SET
N/A
+243.94%
+28.37p vs Intraday
11.63p -10.5%
DELAYED LSE
RHIM

RHI Magnesita
Industrial Metals and Mining
Berenberg
Dated: 30/09/26
REITERATED

Buy
4,000p
TARGET SET
N/A
+39.13%
+1,125p vs Intraday
2,875p -7.4%
DELAYED LSE
RIO

Rio Tinto
Industrial Metals and Mining
Berenberg
Dated: 30/09/26
REITERATED

Buy
Not Disclosed N/A N/A
$91.28 -3.1%
DELAYED LSE
SAGA

Saga
Travel and Leisure
Berenberg
Dated: 30/09/26
REITERATED

Buy
1,025p to 1,130p
TARGET RAISED
+10.24%
+105p
+42.59%
+337.50p vs Intraday
792.50p +0.7%
DELAYED LSE
SBRE

Sabre Insurance Group
Non-life Insurance
Berenberg
Dated: 30/09/26
REITERATED

Buy
200p to 205p
TARGET RAISED
+2.50%
+5p
+12.39%
+22.60p vs Intraday
182.40p +3.6%
DELAYED LSE
VSVS

Vesuvius
Industrial Engineering
Berenberg
Dated: 30/09/26
REITERATED

Buy
450p to 550p
TARGET RAISED
+22.22%
+100p
+17.87%
+83.40p vs Intraday
466.60p -1.3%
DELAYED LSE
BOWL

Hollywood Bowl Group
Travel and Leisure
Berenberg
Dated: 29/09/26
REITERATED

Buy
450p
TARGET SET
N/A
+73.29%
+190.32p vs Intraday
259.68p +4.1%
DELAYED LSE
CCH

Coca-Cola HBC
Beverages
Berenberg
Dated: 29/09/26
REITERATED

Buy
5,453p to 5,483p
TARGET RAISED
+0.55%
+30p
+23.71%
+1,051p vs Intraday
4,432p +1.9%
DELAYED LSE
FMS

Fresenius Medical Care AG & Co. KGaA
Health Care Providers
Berenberg
Dated: 29/09/26
DOWNGRADE

Buy to Hold
$24
TARGET SET
N/A
+11.27%
$+2.43 vs Intraday
$21.57 -3.1%
DELAYED LSE
SNWS

Smiths News
Industrial Support Services
Berenberg
Dated: 29/09/26
REITERATED

Buy
85p to 88p
TARGET RAISED
+3.53%
+3p
+12.65%
+9.88p vs Intraday
78.12p +10.7%
DELAYED LSE
SUS

S&U
Finance and Credit Services
Berenberg
Dated: 29/09/26
REITERATED

Buy
2,310p
TARGET SET
N/A
+21.42%
+407.58p vs Intraday
1,902.42p +0.7%
DELAYED LSE
WIL

Wilmington
Media
Berenberg
Dated: 29/09/26
REITERATED

Buy
485p
TARGET SET
N/A
+76.42%
+210.09p vs Intraday
274.91p +6.1%
DELAYED LSE
RACE

Ferrari
Automobiles and Parts
Berenberg
Dated: 28/09/26
REITERATED

Buy
Not Disclosed N/A N/A
$386.96 -2.8%
DELAYED LSE
SRC

SigmaRoc
Construction and Materials
Berenberg
Dated: 28/09/26
REITERATED

Hold
130p
TARGET SET
N/A
+2.44%
+3.10p vs Intraday
126.90p -1.2%
DELAYED LSE
VTY

Vistry Group
Household Goods and Home Construction
Berenberg
Dated: 28/09/26
REITERATED

Hold
263p to 252p
TARGET LOWERED
-4.18%
-11p
+7.51%
+17.60p vs Intraday
234.40p -18.2%
DELAYED LSE
WPP

WPP
Media
Berenberg
Dated: 28/09/26
REITERATED

Buy
470p
TARGET SET
N/A
+19.35%
+76.20p vs Intraday
393.80p +2.1%
DELAYED LSE
CHRT

Cohort
Aerospace and Defense
Berenberg
Dated: 25/09/26
REITERATED

Buy
1,630p
TARGET SET
N/A
+29.57%
+372p vs Intraday
1,258p +9.0%
DELAYED LSE
DFS

DFS Furniture
Household Goods and Home Construction
Berenberg
Dated: 25/09/26
REITERATED

Buy
210p
TARGET SET
N/A
+42.86%
+63p vs Intraday
147p +1.0%
DELAYED LSE
ICG

Intermediate Capital Group
Investment Banking and Brokerage Services
Berenberg
Dated: 25/09/26
REITERATED

Buy
2,640p
TARGET SET
N/A
+48.99%
+868.05p vs Intraday
1,771.95p -4.6%
DELAYED LSE
RPI

Raspberry Pi
Technology Hardware and Equipment
Berenberg
Dated: 25/09/26
REITERATED

Hold
670p
TARGET SET
N/A
+10.02%
+61p vs Intraday
609p -14.4%
DELAYED LSE
ASC

ASOS
Retailers
Berenberg
Dated: 24/09/26
REITERATED

Buy
600p to 750p
TARGET RAISED
+25.00%
+150p
+64.47%
+294p vs Intraday
456p -6.7%
DELAYED LSE
CVSG

CVS Group
Consumer Services
Berenberg
Dated: 24/09/26
REITERATED

Buy
2,000p
TARGET SET
N/A
+64.20%
+782p vs Intraday
1,218p -0.2%
DELAYED LSE
JD

JD Sports Fashion
Retailers
Berenberg
Dated: 24/09/26
REITERATED

Buy
150p
TARGET SET
N/A
+69.61%
+61.56p vs Intraday
88.44p +15.7%
DELAYED LSE
PRU

Prudential
Life Insurance
Berenberg
Dated: 24/09/26
REITERATED

Buy
1,445p
TARGET SET
N/A
+60.48%
+544.60p vs Intraday
900.40p -5.2%
DELAYED LSE
RBW

Rainbow Rare Earths
Industrial Metals and Mining
Berenberg
Dated: 24/09/26
REITERATED

Buy
52p
TARGET SET
N/A
+149.40%
+31.15p vs Intraday
20.85p -9.3%
DELAYED LSE
TIN

TIN
Industrial Metals and Mining
Berenberg
Dated: 24/09/26
REITERATED

Buy
151p
TARGET SET
N/A
+48.04%
+49p vs Intraday
102p -1.4%
DELAYED LSE
ZEG

Zegona Communications
Telecommunications Service Providers
Berenberg
Dated: 24/09/26
REITERATED

Buy
2,300p
TARGET SET
N/A
+34.19%
+586p vs Intraday
1,714p 0.0%
DELAYED LSE
BOKU

Boku
Software and Computer Services
Berenberg
Dated: 23/09/26
REITERATED

Buy
200p to 210p
TARGET RAISED
+5.00%
+10p
+49.31%
+69.35p vs Intraday
140.65p +6.6%
DELAYED LSE
CWR

Ceres Power
Renewable Energy
Berenberg
Dated: 23/09/26
REITERATED

Buy
950p
TARGET SET
N/A
+192.13%
+624.80p vs Intraday
325.20p -25.1%
DELAYED LSE
JDG

Judges Scientific
Electronic and Electrical Equipment
Berenberg
Dated: 23/09/26
REITERATED

Buy
5,600p
TARGET SET
N/A
+57.08%
+2,035p vs Intraday
3,565p -4.2%
DELAYED LSE
KGF

Kingfisher
Retailers
Berenberg
Dated: 23/09/26
REITERATED

Hold
295p to 320p
TARGET RAISED
+8.47%
+25p
-5.07%
-17.10p vs Intraday
337.10p -0.6%
DELAYED LSE
SMIN

Smiths Group
General Industrials
Berenberg
Dated: 23/09/26
REITERATED

Buy
3,000p to 3,200p
TARGET RAISED
+6.67%
+200p
+19.85%
+530p vs Intraday
2,670p -4.1%
DELAYED LSE
W7L

Warpaint London
Personal Goods
Berenberg
Dated: 23/09/26
REITERATED

Buy
425p
TARGET SET
N/A
+123.68%
+235p vs Intraday
190p -3.3%
DELAYED LSE
BOOT

Henry Boot
Real Estate Investment and Services
Berenberg
Dated: 22/09/26
REITERATED

Buy
219p to 186p
TARGET LOWERED
-15.07%
-33p
+24.41%
+36.50p vs Intraday
149.50p +4.9%
DELAYED LSE
BUR

Burford Capital
Finance and Credit Services
Berenberg
Dated: 22/09/26
REITERATED

Buy
450p
TARGET SET
N/A
+79.16%
+198.83p vs Intraday
251.17p -17.8%
DELAYED LSE
CWK

Cranswick
Food Producers
Berenberg
Dated: 22/09/26
UPGRADE

Buy
5,770p to 6,080p
TARGET RAISED
+5.37%
+310p
+16.48%
+860p vs Intraday
5,220p +1.2%
DELAYED LSE
ECO

Eco (Atlantic) Oil & Gas
Oil, Gas and Coal
Berenberg
Dated: 22/09/26
REITERATED

Buy
125p
TARGET SET
N/A
+227.65%
+86.85p vs Intraday
38.15p -50.8%
DELAYED LSE
HWG

Harworth Group
Real Estate Investment and Services
Berenberg
Dated: 22/09/26
REITERATED

Buy
202p to 195p
TARGET LOWERED
-3.47%
-7p
+4.27%
+7.99p vs Intraday
187.01p +4.9%
DELAYED LSE
LUCE

Luceco
Technology Hardware and Equipment
Berenberg
Dated: 22/09/26
REITERATED

Buy
300p
TARGET SET
N/A
+44.23%
+92p vs Intraday
208p -6.3%
DELAYED LSE
MAB1

Mortgage Advice Bureau
Finance and Credit Services
Berenberg
Dated: 22/09/26
REITERATED

Buy
975p
TARGET SET
N/A
+171.21%
+615.50p vs Intraday
359.50p -4.8%
DELAYED LSE
MIDW

Midwich Group
Industrial Support Services
Berenberg
Dated: 22/09/26
REITERATED

Buy
350p
TARGET SET
N/A
+104.75%
+179.06p vs Intraday
170.94p +13.1%
DELAYED LSE
MNO

Maestrano Group
Industrial Metals and Mining
Berenberg
Dated: 22/09/26
REITERATED

Buy
168p
TARGET SET
N/A
+54.60%
+59.33p vs Intraday
108.67p -8.3%
DELAYED LSE
SAA

M&C Saatchi
Media
Berenberg
Dated: 22/09/26
REITERATED

Buy
195p to 175p
TARGET LOWERED
-10.26%
-20p
+50.85%
+58.99p vs Intraday
116.01p -14.1%
DELAYED LSE
BTRW

Barratt Redrow
Household Goods and Home Construction
Berenberg
Dated: 21/09/26
REITERATED

Buy
370p
TARGET SET
N/A
+20.72%
+63.50p vs Intraday
306.50p +0.9%
DELAYED LSE
CRW

Craneware
Finance and Credit Services
Berenberg
Dated: 21/09/26
REITERATED

Buy
2,600p to 1,600p
TARGET LOWERED
-38.46%
-1,000p
+47.33%
+514p vs Intraday
1,086p +9.0%
DELAYED LSE
ELIX

Elixirr International
Industrial Support Services
Berenberg
Dated: 21/09/26
REITERATED

Buy
1,060p
TARGET SET
N/A
+109.84%
+554.85p vs Intraday
505.15p +1.2%
DELAYED LSE
LIO

Liontrust Asset Management
Investment Banking and Brokerage Services
Berenberg
Dated: 21/09/26
REITERATED

Buy
410p to 360p
TARGET LOWERED
-12.20%
-50p
+17.46%
+53.50p vs Intraday
306.50p +12.3%
DELAYED LSE
NVO

Novo Nordisk A/S
Pharmaceuticals, Biotechnology and Cannabis Producers
Berenberg
Dated: 21/09/26
DOWNGRADE

Buy to Neutral
Not Disclosed N/A N/A
$38.14 -4.2%
DELAYED LSE
RSG

Resolute Mining
Precious Metals and Mining
Berenberg
Dated: 21/09/26
REITERATED

Buy
106p
TARGET SET
N/A
+82.76%
+48p vs Intraday
58p -13.4%
DELAYED LSE
SCT

Softcat
Software and Computer Services
Berenberg
Dated: 21/09/26
REITERATED

Buy
1,950p to 2,400p
TARGET RAISED
+23.08%
+450p
+35.11%
+623.72p vs Intraday
1,776.28p -6.9%
DELAYED LSE
NXT

NEXT
Retailers
Berenberg
Dated: 18/09/26 09:49
REITERATED

Buy
18,700p
TARGET SET
N/A
+25.88%
+3,845p vs Intraday
14,855p +4.5%
DELAYED LSE
BPT

Bridgepoint Group
Investment Banking and Brokerage Services
Berenberg
Dated: 18/09/26
REITERATED

Buy
360p
TARGET SET
N/A
-11.20%
-45.40p vs Intraday
405.40p +32.0%
DELAYED LSE
GLE

MJ Gleeson
Household Goods and Home Construction
Berenberg
Dated: 18/09/26
REITERATED

Buy
310p to 305p
TARGET LOWERED
-1.61%
-5p
+13.92%
+37.27p vs Intraday
267.73p +6.5%
DELAYED LSE
GYM

The Gym Group
Travel and Leisure
Berenberg
Dated: 18/09/26
REITERATED

Buy
295p to 300p
TARGET RAISED
+1.69%
+5p
+65.13%
+118.33p vs Intraday
181.67p -3.4%
DELAYED LSE
HLCL

Helical
Real Estate Investment and Services
Berenberg
Dated: 18/09/26
REITERATED

Hold
216p to 212p
TARGET LOWERED
-1.85%
-4p
+19.77%
+35p vs Intraday
177p -1.9%
DELAYED LSE
ACG

ACG Acquisition
Precious Metals and Mining
Berenberg
Dated: 17/09/26 09:49
REITERATED

Buy
2,300p
TARGET SET
N/A
+18.56%
+360p vs Intraday
1,940p +2.1%
DELAYED LSE
ALFA

Alfa Financial Software
Software and Computer Services
Berenberg
Dated: 17/09/26 09:49
REITERATED

Buy
260p
TARGET SET
N/A
+62.70%
+100.20p vs Intraday
159.80p -0.7%
DELAYED LSE
GFRD

Galliford Try
Construction and Materials
Berenberg
Dated: 17/09/26 09:49
REITERATED

Buy
680p to 750p
TARGET RAISED
+10.29%
+70p
+8.85%
+61p vs Intraday
689p +6.2%
DELAYED LSE
MKS

Marks and Spencer Group
Retailers
Berenberg
Dated: 17/09/26 09:49
REITERATED

Buy
480p
TARGET SET
N/A
+17.65%
+72p vs Intraday
408p +11.8%
DELAYED LSE
OCDDY

Ocado Group
Personal Care, Drug and Grocery Stores
Berenberg
Dated: 17/09/26 09:49
UPGRADE

Strong-Buy
Not Disclosed N/A N/A
$7.89 +31.5%
DELAYED LSE
SAGA

Saga
Travel and Leisure
Berenberg
Dated: 17/09/26 09:49
REITERATED

Buy
1,025p
TARGET SET
N/A
+29.18%
+231.52p vs Intraday
793.48p +28.4%
DELAYED LSE